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Updated: Sep 5, 2022, 7:57pm
Launched in 2015, the Germany-headquartered social network for trading, NAGA provides a multi-trade platform in more than 950 assets including stocks, indices, exchange-traded funds (ETFs), commodities, forex and futures. The publicly-listed company has also recently launched a crypto exchange — NAGAX — with trading in 30 cryptocurrencies.
The company has emerged as a popular global trading and investment platform with an emphasis on social network and active community of users. However, its high deposit cost and limited customer service options aren’t so beginner-friendly. We’ve analyzed the investing platform’s offering in multi-asset trading, particularly cryptocurrency, to help you make the best choices available based on features, user experience fees and other factors.
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Like many other trading platforms, NAGA offers newcomers to practice trading with a demo account and balance to get them acquainted with chart patterns and interpretation of price graph on the financial instrument. The trading tutorials, eBooks, webinars, seminars, and social features like feeds and chatting with others can provide a niche introduction to trading.
To get started, one has to sign up with the platform by stating their name, country of origin, email and phone number verified via OTP, and thus create a username and password to login.
In order to upgrade the account and start live trading on NAGA, the KYC, which refers to “know your customer”, is a must to pass the verification process. The KYC ensures the platform is safe and compliant with national and international laws and regulations.
An Indian user opening an account with NAGA will have to submit the 12-digit unique identification numbers (UID), a.k.a Aadhaar, as well as documents, including:
Once the platform verifies the document, the users can start the live trading by investing a minimum deposit using their debit or credit card. However, trading condition on NAGA is very expensive as one has to deposit a minimum of $250, or equivalent, to start live trading—a major drawback for the platform to rope in Indian crypto traders who would rather explore homegrown crypto exchanges and others to get started at as minimum as INR 100.
Unless the users upgrade their account, they will have limited options to use the platform’s features like copy trade and mirror trading activity of top crypto traders. In order to copy trade, one will have to pay EUR 0.99, and in return, earn a commission if others copy your trading strategies. Also, its flagship payment app NAGA Pay is yet to launch in India.
NAGA offers trading across five currencies, namely EUR, USD, PLN, GBP, and NGC. This means that if an Indian trader deposits $250, the amount of deposit in the INR should be equivalent to $USD.
That said cryptocurrency, or any other trading assets for that matter, are highly volatile, which means that such investment may squeeze your lifetime savings, especially in the short term, and is not suited for all.
Although NAGA does not charge any fees or commissions on deposits, the platform has a broad fee structure for trading, withdrawal, among other aspects. Its pricing is mostly based on the user level, or VIP membership. Here’s a glimpse of some of its pricing structure.
Trading Fees

NAGAX Fees
Like many other exchange platforms, NAGAX uses a maker-taker fee structure for crypto trading. NAGA “maker” is an order that trades at a limited price and “taker” is an order that trades at a market price. The platform has fixed fees for its members based on the amount of NGC (NAGA’s utility token) in their wallets. Users can purchase NGC to become the VIP member of the platform.

Funding with Credit Card
Minimum: EUR 3.99/ GBP 3.99/ USD 3.99 or currency equivalent
Minimum: EUR 3.99/ GBP 3.99/ USD 3.99 or currency equivalent

Withdrawal Fees

NAGA provides a multi-asset trading platform with access to 302 stocks, 17 indices, 22 exchange-traded funds (ETFs), 8 commodities, 48 forex and 21 futures. The platform offers trading in 30 cryptocurrencies. Some popular available coins include:
NAGA offers tools and education resources, along with trading, economic and earnings calculators to help beginners start trading. Their analysts have prepared a host of blogs, eBooks, and video tutorials that cover everything from providing knowledge on market movements on forex, stocks, crypto which you can refer to plan trade strategies. With special emphasis on social networking, the platform’s feed section provides news on the market vis-à-vis top companies and insights into their earnings, too.
NAGA has provided a list of toll-free numbers for international users, including India. However, only if you’re lucky, you will get hold of their customer service representative on the call. It also has a live chat support, which is just another link to help center — a categorized list of FAQs on topics like getting started, account verification, deposits, withdrawals, copy trading, to name a few. In effect, most users will have either email customer service or complaint form options.
Dipen Pradhan is a Staff Reporter for Forbes Advisor India. He has more than 10 years of experience in journalism. He covers the personal finance beat. When he is not writing, he enjoys documenting the community’s ethnic knowledge, and travels to explore rural hotspots.

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